Brokerages Set PureCycle Technologies, Inc. (NASDAQ:PCT) Price Target at $12.00

Shares of PureCycle Technologies, Inc. (NASDAQ:PCT) have received an average rating of “Moderate Buy” from the four brokerages that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $12.00.

PCT has been the subject of several research analyst reports. Cantor Fitzgerald cut their price objective on PureCycle Technologies from $16.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PureCycle Technologies in a research note on Thursday, January 22nd. TD Cowen decreased their price objective on PureCycle Technologies from $7.00 to $6.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Finally, Wall Street Zen cut PureCycle Technologies from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th.

PureCycle Technologies Price Performance

PureCycle Technologies stock opened at $12.39 on Friday. The business has a 50 day simple moving average of $6.62 and a 200 day simple moving average of $8.47. The company has a debt-to-equity ratio of 47.59, a current ratio of 1.71 and a quick ratio of 1.57. PureCycle Technologies has a one year low of $4.93 and a one year high of $17.37. The company has a market capitalization of $2.24 billion, a PE ratio of -8.43 and a beta of 2.31.

PureCycle Technologies (NASDAQ:PCT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.05. PureCycle Technologies had a negative return on equity of 393.01% and a negative net margin of 2,062.36%.The firm had revenue of $4.13 million during the quarter, compared to the consensus estimate of $3.83 million. On average, sell-side analysts forecast that PureCycle Technologies will post -0.97 EPS for the current fiscal year.

Institutional Trading of PureCycle Technologies

A number of institutional investors have recently modified their holdings of PCT. Cassaday & Co Wealth Management LLC bought a new stake in shares of PureCycle Technologies in the first quarter valued at about $33,000. Larson Financial Group LLC increased its position in PureCycle Technologies by 6,571.8% during the third quarter. Larson Financial Group LLC now owns 2,602 shares of the company’s stock worth $34,000 after buying an additional 2,563 shares during the last quarter. Advisory Services Network LLC acquired a new position in PureCycle Technologies during the third quarter worth approximately $35,000. SHP Wealth Management acquired a new position in shares of PureCycle Technologies in the fourth quarter valued at approximately $43,000. Finally, Sigma Planning Corp acquired a new position in shares of PureCycle Technologies in the first quarter valued at approximately $53,000. 63.01% of the stock is currently owned by institutional investors.

About PureCycle Technologies

PureCycle Technologies, Inc operates as a recycling technology company focused on restoring waste polypropylene to a “virgin-like” state through a proprietary purification process licensed from Procter & Gamble. The company develops, owns and operates recycling facilities that convert used polypropylene feedstock—such as packaging and industrial plastics—into ultra‐pure recycled resin. This resin, known as Qualified Recycled Polymer (QRP), is designed to meet stringent quality specifications for applications in packaging, consumer goods and industrial products.

Headquartered in Orlando, Florida, PureCycle was established with technology development efforts dating back to licensing agreements in the mid-2010s and later spun off as a publicly traded entity in 2021.